 "Stock calls by Religare Broking: Buy SBI, Tata Motors DVR, Marico, Escorts")
State Bank of India
Recommendation: Buy
Last Close: Rs 314.75
Initiation range: Rs 313-316
Target: Rs 335
Stop loss: Rs 305
Also Read
Unlike other PSU banking majors, State Bank of India (SBIN) has been trading comparatively stronger and holding strong on the multiple time frames. After forming a new 52-week high at Rs 339.65 last month, it has marginally retraced and is currently trading closer to its crucial support zone. Indications are in the favour of fresh surge in near future. We advise traders to initiate fresh long positions in the given range.
TATA MOTORS DVR
Recommendation: Buy
Last Close: Rs 99.15
Initiation range: Rs 98-100
Target: Rs 112
Stop loss: Rs 94
Tata Motors DVR, after a prolong downtrend, has witnessed sharp recovery last week and is trading on the verge of breakout from a consolidation pattern. The positive divergence between the price chart and RSI oscillator combined with the existence of support zone of 100 EMA on daily chart is adding to the positivity. We, thus, advise accumulating fresh longs as per the mentioned levels.
Marico Limited
Recommendation: Buy
Last Close: Rs 356
Initiation range: Rs 354-357
Target: Rs 380
Stop loss: Rs 345
We’re currently seeing mixed trend on FMCG front. Among the bullish counters, Marico has surpassed the hurdle of multiple moving averages on the daily chart of late, and formed a fresh buying pivot. We feel it’s a healthy buying opportunity and advise traders to initiate fresh longs in the given range.
Escorts Limited
Recommendation- Buy
Last Close: Rs 774.80
Initiation range: Rs 768-772
Target: Rs 790
Stop loss: Rs 750
Escorts has retraced marginally of late, after the sharp surge, and is currently hovering in a narrow range. Technically, it has formed a fresh buying pivot and likely to witness sharp up move in near future. We advise accumulating in the mentioned zone.
=========================================
Disclaimer: The brokerage may have positions in any or all the stocks mentioned above.
http://www.religareonline.com/disclaimer
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%